Palisade Capital Management LP Purchases Shares of 12,908 The Hanover Insurance Group, Inc. $THG

Palisade Capital Management LP acquired a new position in shares of The Hanover Insurance Group, Inc. (NYSE:THG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,908 shares of the insurance provider’s stock, valued at approximately $2,764,000.

A number of other institutional investors and hedge funds have also made changes to their positions in THG. JPL Wealth Management LLC purchased a new position in shares of The Hanover Insurance Group in the 3rd quarter valued at $26,000. Clearstead Trust LLC purchased a new stake in The Hanover Insurance Group in the second quarter valued at $36,000. McMillan Office Inc. purchased a new stake in The Hanover Insurance Group in the fourth quarter valued at $31,000. Entrust Financial LLC acquired a new position in The Hanover Insurance Group in the fourth quarter valued at $33,000. Finally, Root Financial Partners LLC boosted its stake in The Hanover Insurance Group by 69.3% in the first quarter. Root Financial Partners LLC now owns 237 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 97 shares in the last quarter. 86.61% of the stock is owned by institutional investors and hedge funds.

The Hanover Insurance Group Stock Down 0.1%

The Hanover Insurance Group stock opened at $227.22 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.38 and a quick ratio of 0.38. The Hanover Insurance Group, Inc. has a 1-year low of $166.54 and a 1-year high of $236.07. The company has a market cap of $7.91 billion, a PE ratio of 10.85 and a beta of 0.27. The stock’s 50 day moving average price is $218.14 and its 200 day moving average price is $194.24.

The Hanover Insurance Group (NYSE:THG) last issued its earnings results on Tuesday, July 28th. The insurance provider reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $1.47. The Hanover Insurance Group had a net margin of 11.17% and a return on equity of 21.72%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the company posted $4.35 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts predict that The Hanover Insurance Group, Inc. will post 20.17 EPS for the current fiscal year.

The Hanover Insurance Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 13th that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 10.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The Hanover Insurance Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, June 12th. The Hanover Insurance Group’s dividend payout ratio is currently 18.14%.

Insiders Place Their Bets

In other The Hanover Insurance Group news, Director Jane D. Carlin sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $231.50, for a total transaction of $231,500.00. Following the sale, the director directly owned 2,270 shares of the company’s stock, valued at $525,505. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Dennis Francis Kerrigan sold 2,104 shares of The Hanover Insurance Group stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $222.41, for a total transaction of $467,950.64. Following the completion of the sale, the executive vice president directly owned 12,003 shares of the company’s stock, valued at $2,669,587.23. The trade was a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,655 shares of company stock worth $2,145,846. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Zacks Research raised The Hanover Insurance Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods increased their price objective on The Hanover Insurance Group from $220.00 to $222.00 and gave the company a “market perform” rating in a report on Thursday, August 6th. Morgan Stanley raised their target price on shares of The Hanover Insurance Group from $235.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. BMO Capital Markets cut shares of The Hanover Insurance Group from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $194.00 to $203.00 in a report on Tuesday, May 19th. Finally, Oppenheimer upped their price target on shares of The Hanover Insurance Group from $205.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, The Hanover Insurance Group has a consensus rating of “Moderate Buy” and a consensus target price of $225.71.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc (NYSE: THG) is a property and casualty insurance company that provides a range of commercial and personal insurance products. Through its subsidiary companies, Hanover offers coverage for businesses of all sizes, including workers’ compensation, general liability, commercial auto, and professional liability. On the personal lines side, the company underwrites homeowners, personal auto, flood, and umbrella policies designed to meet the needs of individuals and families.

In addition to its core commercial and personal insurance offerings, Hanover maintains a specialty arm that focuses on niche markets through tailored product solutions.